Isis to Receive $6M Payment from Bristol-Myers

CARLSBAD, Calif. (AP) — Isis Pharmaceuticals Inc. on Monday said it earned a $6 million milestone payment from drugmaker Bristol-Myers Squibb Co. for the acceptance of regulatory filings to start an early-stage drug trial for a potential cholesterol treatment.

Isis said the drug candidate came from a collaboration with Bristol-Myers to identify drugs that aim to lower low-density lipoprotein cholesterol, a key component in managing cardiovascular disease.

Isis said a clinical trial will start shortly

"We are pleased with the success of our partnership with Bristol-Myers Squibb and our ability to deliver a drug candidate within the first year of the collaboration," Isis Chairman and CEO Dr. Stanley T. Crooke said in a statement.